AAPL, FB, TWTR & CELG – Quadruple Witching

Tomorrow is quadruple witching, SP500 and Nasdaq rebalancing. Therefore, anything can happen. Here are the updated charts for AAPL, FB, and for couple stocks to watch; CELG & TWTR.

Getting Nervous

The DJIA closed up once again, and that mean it made another new all time high. One would think the market technicians are celebrating with joy and holiday cheers. Well, maybe those technicians that only watch the stock charts and pay little or no attention to the market breadth are celebrating. Those that are the true student of the market are probably getting a bit nervous. Here are some of the things that cause these market technicians to be nervous: 1) non-confirmed DJIA new high, 2) down volume greater than up volume, 3) declining issues outnumbered advance issues, 4) less than 200 issues made new 52 week high, 5) issues made new 52 week high nearly equal to number of issues made new 52 week low. Notice these are all market breadth, not a derivative of the price, i.e. RSI, moving average, etc.

AAPL & More

Updated chart for AAPL, FB, GS, MS, JPM:

Rerun Once Again

It’s just like watching a rerun on TV because we have seen this picture before; the DJIA makes a new all time high along with the SP500 but without the Nasdaq 100 and the Russell 2000 making a new high, and no confirmation from the Dow Theory.

Financial Stocks To Watch

The market is waiting to see if the FED will taper or not from this week's FOMC meeting. Looking at some financial stocks, there appears to be a few that could be setting up to break to the upside, they are: GS, MS, JPM.

Stocks On The Move

FB formed a bull flag and moving toward its previous high. The measured move price target for FB is near 62.

AAPL Price Action Review (Update) – 12/15/2013

AAPL got near the 141% Fib extension then pulled back to test the 554/555 support.

NFLX Continues To Move Higher

Back in early December, I posted this about NFLX price actions that could be leading it toward the post ER high near the 390 region and that the price is trending within a rising price channel. It appears it is still moving toward the 390 region.

Homebuilder Building Up

The common wisdom is the rising interest rates from the anticipated FED tapering will cause a slow down to the housing recovery. This slow down will hamper the homebuilders’ earning prospects. But in defying the obvious, here is SPF, a homebuilder that appears to be setting up for a possible move to its 52 week high.

MGM Analysis – 12/10/13

MGM broke above a multi-year resistance near the 17 level in August and continue to move up to 20.98 before it started to pull back from this rising trend.

Good News Is No Longer Bad

After a good job report last Friday, the market took the good news and rallied. Many market participants were looking for the market to drop on a good job report as it will increase the probability for the Fed to taper. But as in most if not all instances that when the majority is leaning on one side, the market will go to the other.

Let’s Get Social

Here is a look at couple social media stocks, FB & TWTR.

After an extended run up from the July earnings report gap, FB pulled back and tested its IPO high of 45. It appears to be setting up for another run up to its previous high near the 54.80 level.

AAPL Price Action Review (Update) – 12/8/2013

Another illustration on how the market manipulates the price of AAPL during OpEx. Although AAPL did experienced a pull back on Friday, but AAPL's price trend remain to be up. The near term price target of 594 is still intact until it shows otherwise.

AAPL Price Action Review (Update) – 12/5/2013

AAPL got a bump on the news of a deal with China Mobile. As it got near the 576/579 resistance region that was discussed in the previous video, it faded back near the 565 level. Looking at the Open Interest for the weekly OpEx, it appears there is a good possibility it will get pin at 565 or 570. But the near term target remain to be the pivot high of 594 and the trend is still up.

AAPL Price Action Review (Update) – 12/3/2013

AAPL continues to move higher after a minor pullback through the 554/555 level. The price gapped up on the open due to some analyst upgrade, that voided the opportunity for AAPL longs to add or to initiate a position. There appears to be a confluence near the 576-579. Although the near term target is the pivot high near 594, this confluence level could pose some resistance, and maybe at that level AAPL could setup an opportunity for the sideline longs. In the meantime, for those that are long on AAPL, be sure to protect your gains.

Stocks To Watch - 12/1/2013

The market has been up for eight consecutive weeks and could experience a near term pull back. The potential pull back could present an opportunity to enter a swing long on some of these high beta stocks.

Nothing Has Changed

The market ventured into another record high territory on Thanksgiving eve. All the major market indices closed at record high territory with DJIA, SP500, DJT and Russell 2000 at new all time high, while the Nasdaq 100 at new multi-year high. Nothing has really changed.

AAPL Price Action Review (Update) – 12/1/2013

Ever since AAPL found support near 114 and reclaimed the 522 resistance/support level, it proceed to breakout the 529 pivot level and triggered a move toward the 554/555 level. On the day after Thanksgiving, an abbreviated trading session, AAPL broke through the 555 with little resistance. As the market resumes trading after the Thanksgiving holiday, it would not be a surprise if AAPL retrace back to retest the 555 level before it attempt a move toward the 594 region.

It Doesn't Make It Easy

The market is not making it easy for the bulls or for the bears as it continues to make record high. Just in the previous session, the DJIA made a new all time high with confirmation from the DJT and the bulls see it as coast is clear for higher high. Then today, the DJIA making another new all time high by a slim margin of 0.30 with the DJT failed to close with a new high, and that gave the bears something to smile on. But before the bulls move to the sideline or the bears starting a field day, the Russell 2000 said not so fast. The small cap Russell 2000 closed with a new all time high that surpassed the previous high by more than 1% or 12.40, and to cast more confusion into this picture, the tech heavy Nasdaq 100 also closed with another new multi-year high and showing improved market breadth. So what should one do?

AAPL Price Action Review (Update) - 11/26/2013

AAPL broke through the 529/530 level and could be heading toward the previous pivot high near 539. There is a resistance pivot level near 555 in which lies the 141% Fib extension. Barring any major market correction, the near term target for AAPL is the 539 then the 555.